House Republicans Introduce Bill To Block Bailouts

Tuesday, September 15, 2009 at 3:38PM
Staff in Congress, Frontpage 1, Meagan Wiseley, Rep. Judy Biggert, Republican regulatory Reform bill, house financial services committee

By Meagan Wiseley - University of New Mexico, Talk Radio News Service

Republican members of the House Financial Services Committee Tuesday outlined the Republican Regulatory Reform Bill, a piece of legislation that calls for no more government bailouts and an end to government intervention when it comes to failing financial institutions.

“We do need to end bailouts and the government practices of picking winners and losers and restore market discipline. We need reform [and] we need smart clear and strong regulations to get our financial system back on track," said Rep. Judy Biggert (R-Ill.) during a press conference.

Republican members of the Financial Services committee have introduced legislation this week to create an independent trust in order to divest the governments ownership in companies like AIG, General Motors, Citigroup and Chrysler.

Article originally appeared on Talk Radio News Service: News, Politics, Media (http://www.talkradionews.com/).